FCA Senior Management Consultation – Interesting implication for IT outsourcing

Posted on Posted in Regulation

In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA makes an interesting point about IT outsourcing which implies that IT is part of the Senior  Management job function.

If that is the case then the obligations on Senior Managers is to actually understand IT and the implications of SYSC.  This is a big step forward from the FCA who historically have been relatively ambivalent towards IT in general.